Educomp Solutions raises Rs 113 cr through FCCBs
Educomp Solutions Ltd, an e-learning solutions provider on Monday said it has raised Rs 113.43 crore ($25 million) through the issue of FCCBs to be listed on Singapore Stock Exchange.
By PTI |
MUMBAI: Educomp Solutions Ltd, an e-learning solutions provider on Monday said it has raised Rs 113.43 crore ($25 million) through the issue of Foreign Currency Convertible Bonds (FCCBs) to be listed on Singapore Stock Exchange.
The FCCBs would be convertible into equity shares with an initial conversion price of Rs 900 per share and a tenure of over five years, Educomp Solutions informed the Bombay Stock Exchange.
The company said that the FCCBs have gross yield to maturity of 7.5 per cent per annum and would mature on October 14, 2011, it added.
The issue of FCCBs was pursuant to the approval granted by the board of directors and shareholders and the sole book runner and lead manager to the issue was Jefferies International.
Shares of the company were trading at Rs 658.40, up 2.35 per cent at the BSE.
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